Return of Title IV Aid (R2T4) Policy

How a withdrawal affects financial aid. Federal regulations require Title IV financial aid funds to be awarded under the assumption that a student will attend the institution for the entire period in which federal assistance was awarded. When a student withdraws from all courses for any reason, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. The return of funds is based upon the premise that students earn their financial aid in proportion to the amount of time in which they are enrolled. A pro-rated schedule is used to determine the amount of federal student aid funds the individual will have earned at the time of the withdrawal. Once 60% of the semester is completed, a student is considered to have earned all of the student's financial aid and will not be required to return any funds.

The Return to Title IV Policy can be found at https://mercycollege.edu/admissions/financial-aid, under Financial Aid Documents, or you can request a copy from the Office of Financial Aid by email at financialaid@mercycollege.edu.